Micron Technology, Inc. (MU) Stake Increased by Gilder Gagnon Howe & Co. LLC

Gilder Gagnon Howe & Co. LLC raised its stake in Micron Technology, Inc. (NASDAQ:MU) by 43.1% during the second quarter, Holdings Channel reports. The institutional investor owned 39,261 shares of the semiconductor manufacturer’s stock after buying an additional 11,828 shares during the period. Gilder Gagnon Howe & Co. LLC’s holdings in Micron Technology were worth $1,172,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of MU. Guardian Life Insurance Co. of America raised its position in Micron Technology by 0.3% in the first quarter. Guardian Life Insurance Co. of America now owns 4,004 shares of the semiconductor manufacturer’s stock valued at $116,000 after buying an additional 13 shares in the last quarter. First Personal Financial Services raised its position in Micron Technology by 96.8% in the first quarter. First Personal Financial Services now owns 4,234 shares of the semiconductor manufacturer’s stock valued at $122,000 after buying an additional 2,083 shares in the last quarter. Washington Trust Bank raised its position in Micron Technology by 1.5% in the first quarter. Washington Trust Bank now owns 4,355 shares of the semiconductor manufacturer’s stock valued at $126,000 after buying an additional 63 shares in the last quarter. Coconut Grove Bank raised its position in Micron Technology by 1,422.5% in the first quarter. Coconut Grove Bank now owns 5,405 shares of the semiconductor manufacturer’s stock valued at $156,000 after buying an additional 5,050 shares in the last quarter. Finally, D. Scott Neal Inc. acquired a new position in Micron Technology during the second quarter valued at $190,000. Hedge funds and other institutional investors own 80.44% of the company’s stock.

Shares of Micron Technology, Inc. (MU) opened at 27.49 on Friday. The company’s 50-day moving average price is $30.35 and its 200-day moving average price is $27.93. The firm has a market cap of $30.51 billion, a P/E ratio of 12.07 and a beta of 1.76. Micron Technology, Inc. has a 12 month low of $14.43 and a 12 month high of $32.96.

Micron Technology (NASDAQ:MU) last released its quarterly earnings data on Thursday, June 29th. The semiconductor manufacturer reported $1.62 earnings per share for the quarter, beating analysts’ consensus estimates of $1.37 by $0.25. Micron Technology had a net margin of 14.66% and a return on equity of 19.05%. The business had revenue of $5.57 billion during the quarter, compared to analyst estimates of $5.41 billion. During the same period in the previous year, the business earned ($0.08) EPS. Micron Technology’s revenue was up 92.2% compared to the same quarter last year. On average, analysts predict that Micron Technology, Inc. will post $4.71 EPS for the current year.

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Several research firms have weighed in on MU. Robert W. Baird reiterated an “outperform” rating and set a $40.00 target price on shares of Micron Technology in a report on Monday, June 19th. Cowen and Company lifted their target price on Micron Technology from $34.00 to $38.00 and gave the stock an “outperform” rating in a report on Monday, June 26th. Goldman Sachs Group, Inc. (The) reiterated a “neutral” rating and set a $33.00 target price (up from $30.00) on shares of Micron Technology in a report on Friday, June 30th. Mizuho lifted their target price on Micron Technology from $35.00 to $38.00 and gave the stock a “buy” rating in a report on Friday, June 30th. Finally, Citigroup Inc. reiterated a “buy” rating and set a $45.00 target price on shares of Micron Technology in a report on Wednesday, July 12th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, twenty-seven have assigned a buy rating and one has assigned a strong buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $35.65.

In other news, VP Scott J. Deboer sold 10,000 shares of the business’s stock in a transaction on Wednesday, June 7th. The shares were sold at an average price of $32.00, for a total transaction of $320,000.00. Following the completion of the transaction, the vice president now directly owns 150,232 shares in the company, valued at approximately $4,807,424. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP April S. Arnzen sold 1,000 shares of the business’s stock in a transaction on Thursday, June 1st. The shares were sold at an average price of $30.75, for a total transaction of $30,750.00. Following the transaction, the vice president now owns 52,542 shares of the company’s stock, valued at $1,615,666.50. The disclosure for this sale can be found here. Insiders sold a total of 46,250 shares of company stock valued at $1,442,015 over the last quarter. 0.69% of the stock is owned by company insiders.

About Micron Technology

Want to see what other hedge funds are holding MU? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Micron Technology, Inc. (NASDAQ:MU).

Institutional Ownership by Quarter for Micron Technology (NASDAQ:MU)

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